JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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INFORMAL SECTOR INVESTMENT AND EMPLOYMENT GENERATION IN BENUE STATE, NIGERIA
Get PDFThe study analysed the role of informal sector investment on employment generation in Benue state. The study employed modified ordinary least square model to analyze data. The result also shows that employment has an overall positive relationship with informal sector income, investment and employee’s education, this confirms to the apriori. By implication, it means that the increase in informal sector income, investment and education leads to employment in the informal sector investment in Benue State. The study concludes that the informal sector is made up of able-bodied people and are constrained with a myriad of challenges which may deter and limit the potential for alleviating unemployment. Furthermore, the informal sector suffers from social insecurity and so a policy framework must be formulated to attract youth in the sector.  
LEVEL OF GREEN INNOVATION ADOPTION IN CHEMICAL MANUFACTURING FIRMS IN OGUN STATE, NIGERIA
Get PDFThe quest to balance between an environmental sustainability and firm economic indices has generated a growing concern in the chemical industry. This is the basis for the emergent of green innovations to eliminate such notion. Nevertheless, studies have posited that regulation push from the government formed the main reason for this drive. Thus, if this push are substantial in the developing countries such as in Nigeria that remains scarcely documented, the resultant effect should be noticeable in their level of adoption. The focus of the article is to contribute to the debate by examining the status of green innovations in chemical firms in Ogun state, Nigeria. The study is descriptively set-up, with a quantitative data collection component in the form of a survey retrieving 223 questionnaire from staff of chemical companies as listed in the directory of Ministry of Commerce and Industry, Abeokuta, Ogun state. The results shows that to ‘educate, train, and motivate employees in good housekeeping methods, operation, environmental training programs and maintenance of recovery technologies’ is the utmost indicator towards the adoption of green innovation in the chemical firms. Furthermore, the industry is more committed to green managerial innovation, followed by the product and lastly is the process green innovation. The study concludes as well as offers implications as inferred from the obtained results
EXTERNAL FINANCING AND INDUSTRIAL SECTOR OUTPUT IN A DEREGULATED ECONOMY: ECONOMETRIC EVIDENCE FROM NIGERIA
Get PDFThis study examined the nexus between external financing and the Nigeria industrial sectoroutput from 1986-2018. It employed the Auto Regressive Distributed Lag (ARDL) boundstesting approach to co-integration analysis to establish the long run relationship between therelevant time series data. The result revealed that the industrial sector output and selectedexternal financing variables included in the models have a long run relationship. The result alsoshows that in the short-run, the external financing has significant impact on Nigeria industrialoutput while on the long run foreign direct investment, remittance and official developmentassistance have direct and significant effect on Nigeria industrial output. External debt hasdirect but insignificant effect on Nigeria industrial output while foreign portfolio investmenthas inverse and insignificant effect on Nigeria industrial output. Therefore, the studyrecommended that short run deregulation policies should be tailored towards the attraction offoreign finances to augment domestic capital needs for the expansion of and improveproductivity of the Nigerian industrial sector, there is need to spend large amount of remittanceon productive investment in the industrial sector instead of consumption, the Nigeriangovernment should concentrate more on foreign direct investment compared to portfolioinvestment to create enabling environment for the private sector to thrive in the Nigerianindustrial sector and finally, there is need for industrialist to analyzed the profitability of allexternal loan financing projects to ensure that the returns would be in excess of the interest andprincipal
DOES INDUSTRIAL CLUSTER INFLUENCE FIRMS’ GROWTH? EVIDENCE FROM OLUYOLE INDUSTRIAL ESTATE, IBADAN OYO STATE, NIGERIA
Get PDF“Industrial cluster has proven to be of great benefit to many multinational firms all over the world; allowing the actor firms around the cluster to benefit from wealth of knowledge and other positive spill overs in the cluster. The study examines the influences of industrial cluster in Oluyole Industrial Estate in Ibadan, Oyo state on the growth of firms located within the industrial area. A descriptive cross-sectional design is adopted in the study. The design is appropriate because the study involved collecting data from employees and operators of businesses operating within industrial clusters with a view to determining whether or not the industrial cluster has impact on business growth in the area. The population therefore would comprise all manufacturing company in the State but for this study, five have been purposively selected. A total of three hundred and fifty-eight (358) respondents were sampled in the selected areas using simple random sampling technique. The study revealed that fully developed infrastructure was a major factor contingent to the growth of business firms within industrial clusters in the study area (p-value < 0.05). The study concluded that industrial clustering has significant influence on business growth when measured with increase in customer base, increase in market share, and increase in turnover”
CORPORATE SOCIAL RESPONSIBILITY AND GLOBAL BUSINESSES (A STUDY OF COCA COLA PLC, OWERRI - IMO STATE)
Get PDFIn today’s socially conscious environment, employees and customers place a premium on working for and spending their money with strategic global businesses that prioritize Corporate Social Responsibility. The convenience sampling technique was used to determine a sample size of 100 from a population of 192. The study adopted a descriptive statistics of mean and standard deviation, and simple linear regression analysis to examine the impact of corporate social responsibility on Global business in Imo State, Nigeria. Reliability statistics was conducted to ascertain the reliability of the test instrument. The scale proved reliable .823 (α ≥ .70). The study concludes that CSR have a very significant impact on global businesses with a correlation coefficient of -.503 and P- value of .309 at 0.01 level of significance
EFFECT OF GOVERNMENT REGULATIONS ON NEW BUSINESSES (A CASE OF BEVERAGE INDUSTRY IN OWERRI METROPOLIS)
Get PDFThe desire for independence, and to exploit opportunities, financial incentives, redundancy, and reduce unemployment are some of the major push and pull factors that have led to the formation of new businesses in Imo State of Nigeria. The fulfillment of the above desires is now being constrained by hash and inconsistent government policies. The purpose of this study is to examine how government regulations have affected the establishment of new businesses in the beverage industry (Pure Water Firms) in Owerri metropolis. A sample size of 310 was determined using the Taro Yammeh formula from a population of 1425 made up of staff of newly established firms in Imo State. Regression and correlation analysis was used for data analyses. Findings from the study disclosed that high statutory fees and bureaucratic bottlenecks have a significant effect on the formation and managing of new businesses in Imo State. The study, therefore, recommends among others that government should reduce the various costs associated with registration and issuance of licenses in order to encourage new entrepreneurial business formation
FINANCIAL DEVELOPMENT AND SAVINGS: EMPIRICAL EVIDENCE FROM NIGERIA
Get PDFThe study examined the nexus between Financial Development and savings in Nigeria for the period 1981 to 2018. The data for the study was sourced from Central Bank of Nigeria (CBN) Statistical Bulletin covering 37 years and was analyzed using Ordinary Least Square (OLS) econometric technique and Granger Causality test. The study found that Financial Development had a positive significant relationship with savings in Nigeria while savings rate on the other hand had a positive but insignificant effect on savings. Furthermore, the result of the Granger causality test indicated there is a unidirectional causality running from financial development to Savings in Nigeria. The study, therefore, recommended for greater deepening of the financial sector through financial innovations, improved financial instruments and increased deposit rates so as to enable the sector to further contribute to domestic savings mobilization in Nigeria
IMPACT OF THE N-POWER INITIATIVE ON UNEMPLOYMENT IN NIGERIA: DELTA STATE IN FOCUS
Get PDFThe paper examined the impact of the N-Power schemes on unemployment in Nigeria, using Delta State as a reference point. Employing multi-stage sampling techniques, the study adopted a sample of 875 volunteers across 25 local government areas of the State. The probit regression employed by the study showed that the N-Power programme has not significantly reduced unemployment in Delta State as well as equipped volunteers for further employment opportunities. Thus, among other policy options, the study recommended that government should restructure the programme to equip participants on essential skills needed in the labour market
